German Stocks Hit 4000
January 2, 2004Advertisement
German stocks started out strong in the new year, with the DAX Index hitting 4000 for the first time since July 2002. Gains by Adidas-Salomon, SAP and Bayrische Motoren Werke led the surge. Adidas said it expected a 10 percent profit gain this year as demand for its shoes soared in the United States. Both BMW and SAP were said to benefit from expectations of a U.S. recovery. The DAX climbed 44.49 points, or 1.1 percent, to 4,009.65 for a weekly gain of 2.7 percent.